Space as a frontier for business and commerce
The prospect of commercialisation of Space has potential to advance Space exploration, infrastructure, access and terrestrial applications. We strongly believe in a new age which would encompass activities related to the Space commercialisation, new Space technology as well as the cultural developments influenced by these events. We think that Space currency can be one of the milestones in achieving that goal.
What is SpaceBit?
SpaceBIT – first digital currency in Space. The launch of our satellite will take place from Cape Canaveral Air Force Station, Fla. The satellite will be launched as a part of secondary payload on a Falcon 9 rocket, the SpaceX-3 mission using customized Sprite mini satellites.
Is it a new Bitcoin?
SpaceBIT is an innovation above and beyond Bitcoin. Unlike Bitcoin mining, which requires vast amounts of electricity to bring the currency, bitcoins, into circulation, which have very little tangible intrinsic value, SpaceBIT mining will add value to its users by providing a scientific platform to solve real world math problems. Distributed computing platforms are already used to solve scientific problems; however it is the first time when users will be able to get automatic rewards in the form of a bonuses/virtual currency. Unlike Bitcoin – every Watt of energy to mine SpaceBIT is not going to a waste, but helps to create a better world as pool of miners will be working as a parallel supercomputer while SpaceBit platform primarily mediates connectivity to the host project, resource management etc.
It is important to show that commercialisation of Space becomes more accessible. That will boost awareness of Space projects and attract attention from the bigger players. We believe that it will bring a lot of new business opportunities for startups and open up new prospects of the future eCommerce.
In the future we are looking to have additional applications.
We are working to bring together the world’s leading universities and researchers to create the first space-based currency project for educational and experimental purposes. Another issue were looking to overcome is the high barrier to entry in Bitcoin mining. Ordinary users who have commodity hardware will be able to join our community without investing capital. We are starting a dialogue with the scientific community to create a global system that has the potential to change the future of scientific discovery. Miners will be able to direct their processing power to solve some complex scientific problems pooled by our partner institutions. SpaceBit is just the tip of the iceberg. The next stage would be the implementation of a SpaceVault, or extremely secure cold storage for other alternative currencies in Space and to conduct global transactions. That will bring us one step closer to the futuristic concept of Space Banking
Meet the team
CEO Monexy, founding member at DATA
Emeritus Professor at the London School of Economics
Digital and Mobile strategy at Deloitte